Empire without Emperor

The main argument developed in this chapter will be that the USA systemic cycle of accumulation of capital (SCA) has come to an end, and that the material expansion (MC) phase of a new SCA already started. The argument will build on the analysis of SCAs and hegemony developed in the previous chapter, trying to establish the main features of the new SCA and the characteristics of the associated new hegemony. We will draw mainly on Jean Marie Guéhenno’s concept of an “Empire without Emperor” (Guéhenno 1995).